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Flower Mound Boom Town

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The Town of Flower Mound is experiencing an economic boom of sorts that should create numerous new jobs in the coming months, and Town Manager Jimmy Stathatos said he could not be happier with how things are progressing.

Stathatos took over as Town Manager back in January and said that he has been impressed with how hard the Flower Mound town staff has worked and how responsive the town’s residents have been.

“In terms of economic development, we’re experiencing a ton of interest from all different segments, whether its retail, corporate, industrial, there is just a lot of buzz over Flower Mound right now,” Stathatos said.

“With that, we have seen a lot of job activity over the last couple of weeks. We landed a display company, and we just landed a new restaurant, called the Black Walnut Café, which is this company’s first restaurant in the Metroplex. It’s going to be a great addition to Flower Mound, and it is really, really nice, because one thing we hear most from residents is they want more restaurants.”

Houston-based upscale restaurant Black Walnut Café plans to open an approximate 6,000-square foot eatery just north of the FM 2499 and Firewheel Drive intersection, according to Todd Weaver, owner of Weaver Commercial Real Estate.

“The site they chose in Firewheel Village for their restaurant is in the center of town and the extensive trail system connects it to houses close by for foot traffic,” said Weaver.

“Another plus is they are buying the land behind their restaurant for a regional office to manage all the future Black Walnut Café locations here in the DFW area.”

Stathatos said Flower Mound is also close to getting a number of other businesses, though he could not disclose names for legal reasons, including a corporation that has international clients that will bring 100 new jobs.

“I am not trying to be a cheerleader here, but if a third of the things that we are in the running for hit, then it is just going to be incredible,” Stathatos said.

Other developments include a Mellow Mushroom at 2499 at West Windsor, the resurrection of the River Walk at Central Park, and the groundbreaking of Lakeside DFW.

The town’s first mixed-use development, Lakeside DFW, is a 150-acre, $1 billion project along the northeast shore of Grapevine Lake that is expected to add several million dollars in additional tax revenue, increase the ad valorem tax base by 15 percent, generate more than $10 million for Lewisville ISD, and create hundreds of jobs.

The first phase will include single-family homes and luxury apartments, two public plazas, and 50,000 square-feet of commercial space near the entrance of the development at FM 2499 and Lakeside Parkway.

Unique public amenities of Lakeside DFW will include an amphitheater, boardwalk, and an observation deck.

In the center of town next to Texas Health Presbyterian Hospital, the proposed River Walk at Central Park development looks to be getting back on track.

Now owned by Centurion American Acquisitions, The River Walk sits on 158 acres and is expected to include retail shops, restaurants, entertainment venues, an amphitheater, hotel, an office building, townhomes and apartments.

Stathatos said that he has found it very refreshing to work with town staff members and said the process by which the Town of Flower Mound’s departments accomplish their tasks is better now, also.

“People who move to Flower Mound want to know what the requirements are and they want us to streamline the process, whether they are building a house or a Fortune 500 company,” Stathatos said.

“Everyone wants that, no matter what city it is, and we have actually done that by eliminating some positions and redirecting our efforts in other areas.

“So when someone comes in and wants to build a business, we tell people exactly what they need to do and are able to do so with less people. With this, we have been able to save about $150,000 a year from now on. Not only are we saving money, but we are going to be a lot more efficient.”

Stathatos said that it is gratifying to see some of the things he was hoping would come to fruition do so.

“I’m excited, because the community is so receptive to the changes and growth,” Stathatos said.

“Everything we are hearing is positive. We have some fantastic employees within the Town of Flower Mound, so I am just trying to put people in the best positions and get out of the way.”

 

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